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How much can I borrow?

  • You can borrow up to 80% of the value of the property; however, it will depend on your circumstances and factors such as sources of income.

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Will I get approved?

  • Lenders like to see that you have a track record of employment in the same line of work/industry (some exceptions can be made).
  • You’ll need to be in a strong financial position.
  • You must have a clear credit file (some exceptions can be made).
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Interest rates available:

Competitive rates available. Please contact us to find out how we can help you.


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Lenders available:

Bank and non-bank lenders available. Contact us to learn more.


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Discover if you qualify:

We can help you buy or refinance property anywhere in Australia.

Being unemployed can be an ordeal. It can be even more challenging if you’re looking to buy a home or refinance your home loan, as your employment status affects your home loan application.

As income is one of the essential factors when seeking approval for a home loan, lenders might view you as a risk if you’re unemployed.


So, how do I get a home loan if I’m out of a job?

Select lenders may ask you for proof of some form of income to check that you can repay the loan.

Other than that, there are a few ways you might be able to secure a loan while being unemployed:

Using a co-signer

A co-signer is someone who contractually agrees to pay the debt if the applicant doesn’t make payment. It could be one of your parents or your spouse. They’ll need to be employed or have a massive net worth.

Using investment income

If you own stocks or have made investments, you could use the income you receive from those streams. However, loans approved by using investment incomes could have higher interest rates.

Using other sources of passive income

Generally, passive income can come from rental property or a business where you are not actively involved. Examples of passive income include dividends, rental income, book royalties, alimony and more.

Few lenders might consider these income sources when judging your loan application.

Using your net worth

If you have a considerable net worth, you can show this to lenders as proof that you can make the repayments on time.

Note: Even if you can use the ways mentioned above, it might still be challenging to qualify for the loan.


What if I just lost my job?

If you’ve just lost your job, you could try providing the lender with your employment history and let them know that you are actively pursuing a job. You’d also need to show alternative sources of income or a saved deposit as proof that you can make the repayments.

Even then, the chances of getting approval can be very low.


What if I just started a new job?

If you’ve just started a new job or if you’re on probation, we have good news for you. At Home Loan Experts, we know lenders on our panel who might be able to help you.

Can I get a home loan while on probation at work?

You can get a home loan while on probation at work to ensure that your job is secure while applying for a home loan. We know a few lenders who might get your application approved.

Most lenders might approve your loan if:

Why use us?

We aim to set an example by delivering what we promise: a higher level of service, better advice and better home loans.

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Australia-wide services

We finance properties anywhere in Australia for people anywhere in the world.

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Get incredible interest rates

Our relationships with our panel of lenders allow us to negotiate your interest rate.

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We get tough loans approved

We can help you navigate the often complex pre-approval and application process.

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How we find you the right solution

We get a complete understanding of where you’re at and what your ultimate goals are.
You’ll get a recommendation in just a few simple steps.

free assessment
1

Complete our free assessment form or call us.

situation
2

We assess your situation.

options
3

We look at all the options from our panel of lenders.

suitable home loan deals
4

We will find you the most suitable home loan deals.

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Facts
about us

50+

lenders on
our panel

$4B+

lent Australia-wide
and counting

Westpac
ANZ
Nab
AMP
Qudos
Firstmac
Common Wealth
St George
ING
Homeloans
Macquire
Suncorp
Pepper Money
Me Bank
Bankwest
75%

of our borrowers get
approved with a major bank

95%

of our borrowers get a discount
below the bank standard variable rate